jan 22 2006

sixty minutes' bob simon just did a report on the eye-popping possibilities of the alberta oil sands.  plz don't shoot the messenger (me.)

my handwritten notes say that they're claiming 175 (?) billion barrels proven reserves second only to saudi arabia.  and that's using today's technology.  the implication is 'just think what we'll get with tomorrow's technology.'  they said there could be two trillion barrels or more, eight times what there is in s.a. and enough to carry us through the next century.  all you have to do is add hot water; the oil floats to the top and the sand sinks to the bottom.  piece of cake.  eroei?  what's that?  the sands currently produce a million barrels a day.  the amount's expected to triple in ten years. 

they showed the trucks used in the process.  they're three storeys high and cost five million a piece.  from the angle of the shot it looked as though the wheels were taller than bob and the oil guy.  the oil guy climbs fourteen stairs to get behind the wheel.  EACH load the truck carries is worth ten thousand dollars.

the oil produced, a high quality crude, trades at a premium.  a hundred billion$ have been invested.  t boone pickens figured prominently in the report.

a greg stringham said that oil sands, unlike conventional oil, involve no exploration risk.  you drill, you strike gold.  the only thing holding them back is manpower although a twenty year old worker was interviewed who makes over a 100,000$ p.a.  it's still really cold up there.

sierra club canada complained that no one sees the environmental havoc that the fields become.  t boone said that'll be taken care of.  once they've fukked up i mean dug up an area, they reforest it.  sierra club also said that canada was feeding the u.s.' addiction.  t boone said the alternatives are bleak.  the days of cheap oil are gone.